Americans Unhappy About Economy, Fear Losing Jobs

Posted by: : Paul EbelingPosted on: November 29, 2013 Americans Unhappy About Economy, Fear Losing Jobs

Americans Unhappy About Economy, Fear Losing Jobs

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Most Americans are unhappy about the US economy and concerned about losing their jobs, according to a new Washington Post-Miller Center poll.

Among those with jobs, 62% said they worry about losing their jobs because of the economy, including 32% who worry “a lot” and 30%  who worry “a little.”

In addition, 73% said they are dissatisfied with the economy, including 27% who are somewhat dissatisfied and 46% who are very dissatisfied.

About 48% say they feel less financially secure than they did a few years ago, compared with 23% who feel more secure and 29% who feel about the same.

Lower-income Americans are the most insecure, the survey indicates.

Of those making $35,000 a year or less, 54% worry a lot about losing their jobs. By contrast, 29% of workers earning between $35,000 and $75,000 and just 17% of those earning more than $75,000 worry a lot about losing their jobs.

Insecurity among lower-income workers is higher than it has been since the 1970s, according to the Post’s article about the poll.

Most lower-wage workers, 85%, also worry they will not make enough to pay their bills, compared with 32% in a Y 1971 survey.

Nevertheless, Americans are generally happier about their personal situations, 61% said they are satisfied with their personal financial situation, compared with 37% who are dissatisfied.

About 26 percent believes it’s more likely their social class will slip backward over the next few years, but 45% think they’ll probably move up, 54% say they’re better off than their parents, while 27% say they are  about the same and 18% say they are worse off.

According to the Economic Security Index (ESI), insecurity rose substantially in all states during the past 10 yrs, but was already increasing before the recession.

The Great Recession produced peak levels of insecurity in nearly all states, insecurity rose substantially before the downturn as well.

Every state had higher average insecurity between Ys 1997 and 2007 than between Ys 1986 and 1996,” states the index’s Y 2013 report.

Economic security is greatly influenced by levels of unemployment and college education in a state, notes the ESI.

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Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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